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Fly News Breaks for April 15, 2019
ALNY
Apr 15, 2019 | 08:24 EDT
The "generally positive" givosiran data over the weekend, which is likely to support approval in the U.S. and Europe, is largely baked into shares of Alnylam Pharmaceuticals, Nomura Instinet analyst Christopher Marai tells investors in a research note. However, the small market opportunity and the inability to genetically identify patients has not been fully appreciated, adds the analyst. He estimates $239M in 2022 sales globally compared to the consensus at $299M. While the data suggest givosiran can reduce high acute attack rates to be more in line with less severe, more typical manifestation of the disease, chronic symptom improvement did not reach statistical significance, says Marai. He reiterates a Reduce rating on Alnylam with a $62 price target.
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